“Growth hacking” is a buzzword that has gained popularity in the corporate sector in recent years. Coined by serial entrepreneur and angel investor Sean Ellis, growth hacking refers to a set of marketing approaches and strategies geared toward driving rapid and sustained corporate growth. This strategy is especially common among start-ups and small firms that need to expand swiftly to establish themselves in a competitive market.
At its core, growth hacking is about experimentation and optimization. It utilizes data-driven insights to determine the most effective methods of driving growth, as well as a range of digital marketing tools and tactics, including social media, search engine optimization, email marketing, and conversion rate optimization.
So now you know what growth hacking is all about.
But how can you start growth hacking your small business or next start-up?
That’s exactly what the latest study from OnDeck focuses on. It outlines the 7 best tips on growth hacking a business, which include real-world examples from some of the biggest and most successful companies in the world.
They’ll show how to use low-cost marketing tactics like word of mouth to attract new customers – just like Uber started doing all the way back in 2009.
There’s advice on harnessing the power of social media and online influencers. These tips will also show you how to turn customers into brand advocates by encouraging them to share their experiences via user-generated content.
You’ll also learn the value of a well-targeted email campaign, where $1 invested can generate over $30 in revenue, and how to implement high-tech, AI-driven solutions into your small business without blowing up that marketing budget.
And to make sure your growth hacking strategy stays on the right track, the OnDeck study finishes with a breakdown of the four biggest mistakes to avoid.
Read on to find out more. These tips will help your business grow faster – guaranteed.
